Tectonic Therapeutic (NASDAQ:TECX) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Tectonic Therapeutic from hold to strong sell, adding to mixed analyst sentiment around the stock.
• Despite the downgrade, the broader analyst picture is still relatively positive, with a consensus rating of Moderate Buy and an average target price of $79.40.
• The company reported a quarterly loss of ($1.34) EPS, missing estimates, while the stock traded around $32.80 and was up 2.3% in Monday’s session.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on TECX. Raymond James Financial raised Tectonic Therapeutic from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $76.00 to $81.00 in a report on Tuesday, May 26th. Wall Street Zen lowered Tectonic Therapeutic from a "sell" rating to a "strong sell" rating in a research note on Saturday, April 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Friday. Finally, Stifel Nicolaus initiated coverage on Tectonic Therapeutic in a research note on Monday, April 13th. They set a "buy" rating and a $75.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $79.40.

Tectonic Therapeutic Stock Up 2.3%

NASDAQ TECX opened at $32.80 on Monday. Tectonic Therapeutic has a twelve month low of $14.39 and a twelve month high of $39.53. The stock has a market cap of $618.94 million, a P/E ratio of -7.35 and a beta of 3.21. The company's 50-day simple moving average is $31.07 and its 200 day simple moving average is $27.68.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.34) EPS for the quarter, missing analysts' consensus estimates of ($1.16) by ($0.18). Research analysts anticipate that Tectonic Therapeutic will post -5.46 earnings per share for the current year.

Insider Transactions at Tectonic Therapeutic

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 1,065 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.00, for a total transaction of $31,950.00. Following the transaction, the insider owned 67,682 shares of the company's stock, valued at approximately $2,030,460. This represents a 1.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 39.80% of the company's stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently made changes to their positions in the company. Aberdeen Group plc boosted its holdings in Tectonic Therapeutic by 220.6% in the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company's stock valued at $23,818,000 after acquiring an additional 785,648 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Tectonic Therapeutic in the fourth quarter worth about $1,320,000. 5AM Venture Management LLC raised its holdings in Tectonic Therapeutic by 18.6% during the 4th quarter. 5AM Venture Management LLC now owns 606,660 shares of the company's stock worth $12,655,000 after purchasing an additional 95,000 shares during the last quarter. BIT Capital GmbH bought a new stake in Tectonic Therapeutic during the 4th quarter worth about $626,000. Finally, Baker BROS. Advisors LP lifted its position in Tectonic Therapeutic by 803.4% during the 4th quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company's stock valued at $18,845,000 after purchasing an additional 803,400 shares during the period. Institutional investors own 62.63% of the company's stock.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.

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